Online marketplace with seller financing

ABSTRACT

An online marketplace system generates an online marketplace for seller-financed transactions. The system includes a plurality of listings of transaction offerings that are available. The transaction offerings are listed by a plurality of users and are from a plurality of different categories of products and services. The transaction offerings include a plurality of transaction terms, including payment and seller-financing terms. A transaction engine facilitates the negotiation of transaction terms between users and the formation of agreement between users. Transaction coins are awarded during the successful performance of a transaction according to the agreed upon transaction terms. A reputation engine generates trust profiles and trust scores for users. The trust profiles and trust scores are used by parties to evaluate the trustworthiness of the other party. A user interface engine generates a user interface that includes listings from users and trust scores of those users.

CROSS-REFERENCE TO RELATED APPLICATIONS

This application is a U.S. National Stage Application ofPCT/US2015/040938, filed Jul. 17, 2015 and claims priority to U.S.Utility patent application Ser. No. 14/335,634, filed Jul. 18, 2014, nowU.S. Pat. No. 9,501,791, the disclosures of which are herebyincorporated by reference in their entireties. To the extentappropriate, a claim of priority is made to each of the above disclosedapplications.

BACKGROUND

Marketplaces provide a forum for the exchange of goods and services.Marketplaces ease the exchange of goods and services by providing acommon meeting place where those interested in buying or selling cancome together to seek mutually beneficial transactions.

In addition to physical marketplaces, the Internet also allows buyersand sellers to gather in online marketplaces. Online marketplaces havesome advantages over physical marketplaces. One advantage is that thebuyer and seller do not have to be physically in the same location.Another advantage is that an online marketplace may bring together amuch larger number of people, increasing the likelihood that buyers andsellers will be able to find mutually beneficial transactions.

SUMMARY

In general terms, this disclosure is directed to an online marketplacein which transaction offerings are made available with seller-financing.In one possible configuration and by non-limiting example, the onlinemarketplace includes listings for transaction offerings that includetransaction terms, including seller-financing terms. Various aspects aredescribed in this disclosure, which include, but are not limited to, thefollowing aspects.

One aspect is an online marketplace system comprising: at least oneprocessing device; and at least one computer readable storage devicestoring data instructions that, when executed by the at least oneprocessing device, cause the at least one processing device to generatean online marketplace for seller-financed transactions, the onlinemarketplace comprising: a plurality of listings of transaction offeringsthat are available from sellers over time for at least two payments,wherein the listings of transaction offerings include transactionofferings across a plurality of different transaction offeringcategories; a reputation engine configured to generate and store trustprofiles for users of the online marketplace, the trust profilesconfigured to allow both buyers and sellers to evaluate trustworthinessof each other prior to entering into seller-financed transactions; atransaction engine configured to interact with the buyers and sellers todefine terms of the seller-financed transactions; and a payment engineconfigured to monitor compliance with the terms of the seller-financedtransactions including receipt of payments over time from the buyers.

Another aspect is an online marketplace system for seller-financedtransactions, the marketplace system comprising: at least one processingdevice; and at least one computer readable storage device storinginstructions that, when executed by the at least one processing device,cause the at least one processing device to generate an onlinemarketplace to: receive descriptions of a plurality of transactionofferings from a plurality of seller users of the online marketplace,wherein the transaction offerings are available from the seller usersover time for a plurality of payments; generate a plurality of listings,each of the listings including one of the descriptions of the pluralityof transactions offerings, wherein the plurality of listings areassociated with transaction offerings across a plurality of differenttransaction offering categories; present at least some of the pluralityof listings to buyer users; and facilitate negotiation of bindingcontracts between the buyer users and the seller users for transfer ofthe transaction offerings from the seller users to the buyer users,wherein the binding contracts define payment terms, and wherein thepayment terms include prices and seller-financing terms including atleast two payments to be made by the buyer users to the seller usersover a period of time.

Yet another aspect is a method of facilitating online transactionsinvolving seller financing in an online marketplace, the methodcomprising: receiving descriptions of a plurality of transactionofferings from a plurality of seller users of the online marketplace,wherein the transaction offerings are available for purchase from theseller users over time for at least two payments; generating a pluralityof listings using at least one computing device, each of the listingsincluding one of the descriptions of the plurality of transactionsofferings, wherein the plurality of listings are associated withtransaction offerings across a plurality of different transactionoffering categories; presenting at least some of the plurality oflistings to buyer users; and facilitating negotiation of bindingcontracts between the buyer users and the seller users for the transferof the transaction offerings from the seller users to the buyer users,wherein the binding contracts define payment terms, and wherein thepayment terms include prices and seller-financing terms including atleast two payments made by the buyer users to the seller users over aperiod of time.

A further aspect is a method of facilitating online transactionsinvolving seller financing, the method comprising: receiving a listingfrom a seller, using at least one computing device, the listingincluding: a description of a product; a photograph of the product; andproposed seller-financing terms, including at least a price, a monthlypayment amount, and a period of time for the monthly payments;presenting the listing to a buyer; presenting a trust profile of theseller to the buyer, the trust profile including: reputation dataincluding: reputational factors, including: at least one rating of atleast one of the seller's prior transactions, from another user;historical data about the seller's conformance to terms of the seller'sprior transactions; and information about a verification level of theseller; and a trust score computed based on at least some of thereputational factors, including a number of the seller's priortransactions; and a transaction coins element representing a quantity oftransaction coins that have been earned by the seller; receiving anoffer to enter into a transaction to purchase the product from the buyeraccording to the proposed seller-financing terms; presenting the offerto the seller; presenting a trust profile of the buyer to the seller;receiving an acceptance from the seller to define a binding contractwith final seller-financing terms between the seller and the buyer usingthe at least one computing device; managing conformance of the sellerand the buyer to the seller-financing terms of the contract using the atleast one computing device; and updating the trust profiles of theseller and the buyer based on the conformance of the seller and thebuyer to the seller-financing terms of the contract.

A further aspect is a method of facilitating online transactionsinvolving seller financing, the method comprising: receiving a listingfrom a seller, using at least one computing device, the listingincluding: a description of a product; a photograph of the product; andproposed seller-financing terms, including at least a price, a paymentamount, a payment frequency, and a number of payments; presenting thelisting to a buyer; presenting a trust profile of the seller to thebuyer, the trust profile including: reputation data including:reputational factors, including: at least one rating of at least one ofthe seller's prior transactions, from another user; historical dataabout the seller's conformance to terms of the seller's priortransactions; and information about a verification level of the seller;and a trust score computed based on at least some of the reputationalfactors, including a number of the seller's prior transactions; and atransaction coins element representing a quantity of transaction coinsthat have been earned by the seller; receiving an offer to enter into atransaction to purchase the product from the buyer according to theproposed seller-financing terms; presenting the offer to the seller;presenting a trust profile of the buyer to the seller; receiving anacceptance from the seller to define a binding contract with finalseller-financing terms between the seller and the buyer using the atleast one computing device; managing conformance of the seller and thebuyer to the seller-financing terms of the contract using the at leastone computing device; and updating the trust profiles of the seller andthe buyer based on the conformance of the seller and the buyer to theseller-financing terms of the contract.

Another aspect is a system for facilitating transactions comprising: atleast one processing device; and at least one computer readable storagedevice storing data instructions that, when executed by the at least oneprocessing device, cause the at least one processing device to generatean online marketplace for seller-financed transactions, the onlinemarketplace comprising: a transaction engine configured to receive atransaction offering from an external location and to interact with abuyer user and seller user to define payment terms for the transactionoffering, wherein the payment terms include prices and seller-financingterms including at least two payments made by the buyer user to theseller user over a period of time; and a payment engine configured tomonitor compliance with the payment terms including receipt of paymentsover time from the buyer user.

Yet another aspect is a method of facilitating online transactionsinvolving seller financing, the method comprising: receiving, from anexternal location, a transaction offering being offered by a selleruser; and facilitating negotiation of a binding contract between a buyeruser and the seller user for the transfer of the transaction offeringsfrom the seller user to the buyer user, wherein the binding contractdefines payment terms, and wherein the payment terms include prices andseller-financing terms including at least two payments made by the buyeruser to the seller user over a period of time.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a schematic block diagram illustrating an example of a systemfor providing an online marketplace.

FIG. 2 illustrates an exemplary architecture of a computing device thatcan be used to implement aspects of the present disclosure.

FIG. 3 is a flow chart illustrating an example method of completing atransaction using the system of FIG. 1.

FIG. 4 illustrates an exemplary architecture of the program modules ofthe server of FIG. 1.

FIG. 5 illustrates an exemplary architecture of the database of FIG. 1.

FIG. 6 is a flow chart illustrating an example method of generating auser interface for the online marketplace of FIG. 1.

FIG. 7 is a flow chart illustrating an example method of browsing andsearching listings using the system of FIG. 1.

FIG. 8 is a flow chart illustrating an example method of creating a useraccount using the system of FIG. 1.

FIG. 9 is a flow chart illustrating an example method of creating alisting on the online marketplace of FIG. 1 for a transaction offering.

FIG. 10 is a flow chart illustrating another example method of using thewanted category of listings in the system of FIG. 1.

FIG. 11 is a flow chart illustrating an example method of agreeing on atransaction using the system of FIG. 1.

FIG. 12 is a flow chart illustrating an example method of processing atransaction using the system of FIG. 1.

FIG. 13 is a flow chart illustrating an example method of rating a userusing the system of FIG. 1.

FIG. 14 is a flow chart illustrating an example method of generating andupdating a transaction coin for a transaction using the system of FIG.1.

FIG. 15 is a flow chart illustrating an example method of calculating auser trust score using the system of FIG. 1.

FIG. 16 is a block diagram illustrating an example layout of aneighborhood interface generated by some embodiments of the neighborhoodengine and the user interface engine of FIG. 4.

DETAILED DESCRIPTION

Various embodiments will be described in detail with reference to thedrawings, wherein like reference numerals represent like parts andassemblies throughout the several views. Reference to variousembodiments does not limit the scope of the claims attached hereto.Additionally, any examples set forth in this specification are notintended to be limiting and merely set forth some of the many possibleembodiments for the appended claims.

The present disclosure relates to systems and methods associated with aseller-financed, online marketplace for a plurality of different typesof transaction offerings. Examples of transaction offerings includegoods and services. Examples of goods include products and commodities.In at least some embodiments, the online marketplace allows users topost advertisements for transaction offerings that the user would liketo sell or lease. Similarly, in some embodiments the online marketplaceallows users to post requests for transaction offerings that the userwould like to acquire (or lease). In addition to posting a descriptionof the transaction offering that the user wishes to sell or acquire, themarketplace allows the user to specify payment terms for the transactionoffering as well. Examples of payment terms include price, down paymentamount, interest rate, number of payments, payment frequency, and dateof first payment. The marketplace allows the user to specify other termsas well, such as delivery preference and whether layaway is available.Additionally, in some embodiments, the marketplace also allows users todonate a transaction offering to another user.

The marketplace also operates in at least some embodiments to allowusers to make offers and counter-offers to each other that specify theterms of a potential transaction for the transaction offering. Althoughmany of the examples described herein relate to transactions for asingle transaction offering, some embodiments operate to bundletransactions offerings from one or multiple users. It should beunderstand that the various descriptions herein are applicable tobundled transactions as well as transactions involving a singletransaction offering.

The marketplace operates to maintain profile information about users.Examples of profile information include the number of previoustransactions that have been completed successfully or unsuccessfully,reviews and ratings of previous transactions, and badges that indicatethe verification level of the user. The verification level of the useris based on the amount of identifying information the user has sharedwith the marketplace. In at least some embodiments, the marketplaceoperates to combine various different types of profile information tocalculate a trust score for a user. In some embodiments profileinformation including reputation data is displayed in a trust profile.In some embodiments the trust profile includes a trust score. In someembodiments a trust profile includes a verification level. In someembodiments the trust profile includes transaction coins elements.Examples of trust profiles include the neighbor profiles 1148 shown inFIG. 16, and other user profiles as described herein. In someembodiments, the marketplace also includes various game-like features toencourage user to complete certain processes such as the verificationprocess or collecting transactions coins. For example, a user may earnbadges or other forms of awards for successfully completing certainprocesses, transactions, etc.

The marketplace operates in at least some embodiments to generate a userinterface that allows users to view profile information about otherusers before entering into a transaction with that other user. Themarketplace also operates to generate a user interface that allows auser to provide a rating for another user based on a transaction withthat user. In at least some embodiments, the marketplace only allows auser to provide a single rating for another user. In this manner, themarketplace may prevent users from manipulating average ratings byentering into multiple sham transactions with one other user.

After the users have agreed to enter into a transaction with oneanother, the marketplace operates in at least some embodiments to allowthe users to make and receive payments. In at least some embodiments,the marketplace records and tracks whether the payments are successfullymade. Additionally, the marketplace can generate reminders that paymentsare due.

The marketplace also operates in at least some embodiments to generate auser interface that allows users to send and receive offers to changethe payment terms of previously entered transactions. For example, auser can propose increasing the interest rate in exchange for delayingthe start of payments.

In addition to managing transactions related to transaction offeringsadvertised in the marketplace, in some embodiments the marketplacemanages transactions that occur off-line or even that have occurred inthe past. For example, a first user may owe money (e.g., $1000) to asecond user for a previous purchase. The first user and the second usermay then agree to payment terms (e.g., 10 monthly payments of $100) tobe made using the marketplace. In this manner, the marketplace can serveas a payment interface between parties. Beneficially, the marketplacecan manage, track, and associate the performance of the payments withthe profile information of the users. The marketplace can also be usedto make and receive rent payments or other streams of payments that aremade multiple times. In at least some embodiments, the marketplace isconfigured to send out payment reminders and default notifications thatcomply with various local laws in multiple jurisdictions. Beneficially,the marketplace can serve to enforce a payment policy while the partycollecting the payments can maintain a friendly relationship with thedebtor or renter, for example.

Additionally, in at least some embodiments, the marketplace also allowsthird-party financing. For example, third-party payer such as a bank orother lender may provide some or all of the price of a transactionoffering. The third-party payer can make a payment or agree to make oneor more payments to the listing user of the transaction offering onbehalf of another responding user, such as a buyer. Alternatively, thethird-party payer can agree to make payments to the responding user sothat the responding user can then make payments to the listing user inaccordance with the transaction terms. The third party payer canevaluate whether to make the payment based on the reputations (e.g.,trust score) of one or both of the responding user and the listing user.In some embodiments, the responding user then makes payments to repaythe third-party payer through the online marketplace. In this manner,the third-party payer provides financing for some or all of the price ofthe transaction offering. Beneficially, the third-party payer may profitby collecting interest. Additionally, in some embodiments, multiplethird-party payers can together provide some or all of the price of atransaction offering. As another example, the third-party payer canprovide or offer a credit line to all users having a trust score above acertain threshold to be used within the online marketplace.

In at least some embodiments, one or more users can agree to beresponsible for the payments required for a particular transactionoffering on behalf of another user. This can be beneficial if a user hasnot established a strong reputation. Additionally, this can bebeneficial for making a gift payment and ensuring it is used for aparticular purpose.

In at least some embodiments, the online marketplace operates tomaintain one or more currency accounts for users as well. For example,users may deposit (or transfer) money directly into the currency accountand in exchange receive currency that can be used to completetransactions on the online marketplace. In some embodiments, thecurrency in the account is a virtual currency maintained by the onlinemarketplace. Additionally, in some embodiments, the online marketplacemaintains accounts with funds maintained in a real currency that can bedeposited or withdrawn at any time such as without completing atransaction using the online marketplace. Additionally, to facilitatetransactions between users in different countries, some embodimentsallow for converting between various real currencies at differentexchange rates.

FIG. 1 is a schematic block diagram illustrating an example of a system100 for providing an online marketplace. In this example, the system 100includes the online marketplace 102, user computing devices 104 a, 104b, 104 c, and 104 d (collectively referred to as user computing devices104), and network 106. In this example, user computing device 104 a isbeing used by a buyer, user computing device 104 b is being used by abuyer/seller, user computing device 104 c is being used by a third-partypayer, and user computing device 104 d is being used by a seller.

The online marketplace 102 operates to facilitate the completion ofvarious transactions and payments between users. The online marketplace102 includes a server 108, a database 110, and a local area network 112.

The server 108 operates to perform various processes related tofacilitating the completion of transactions and payments between users.The server 108 is a computing device that includes a database softwareapplication, such as the SQL SERVER® database software distributed byMICROSOFT® Corporation. In at least some embodiments, the server 108includes a Web server or a file server. In some embodiments, the server108 comprises a plurality of computing devices that are located in oneor more physical locations. For example, the server 108 can be a singleserver or a bank of servers.

In this example, the server 108 includes the marketplace with sellerfinancing engine 109. The marketplace with seller financing engine 109operates to generate interfaces and perform other processes associatedwith the online marketplace with seller financing.

The database 110 is a data storage device configured to store datarelated to users, transactions, and payments. Examples of the database110 include a hard disk drive, a collection of hard disk drives, digitalmemory (such as random access memory), a redundant array of independentdisks (RAID), optical or solid state storage devices, or other datastorage devices. The data can be distributed across multiple local orremote data storage devices. The database 110 stores data in anorganized manner, such as in a hierarchical or relational databasestructure, or in lists and other data structures such as tables. Thedatabase 110 can be stored on a single data storage device ordistributed across two or more data storage devices that are located inone or more physical locations. The database 110 can be a singledatabase or multiple databases. In at least some embodiments, thedatabase 110 is located on the server 108.

The network 112 communicates digital data between the server 108 and thedatabase 110. The network 112 can be a local area network or a wide areanetwork, such as the Internet. The server 108 and the database 110 canbe in the same or remote locations.

The user computing devices 104 operate to allow users to access theonline marketplace 102. The user computing devices 104 are connected tothe network 106. The user computing devices 104 may connect to thenetwork using a wired or wireless interface. In some embodiments theuser computing devices 104 access the online marketplace 102 through aWeb interface using a Web browser. In other embodiments, the computingdevices access the online marketplace 102 using an application. Otherembodiments are possible as well. Sellers include lessors and buyersinclude lessees. In some embodiments the users including posting usersand responding users. A posting user can include a seller or a buyer(e.g., when the buyer posts a want ad listing), and a responding usercan include a buyer or a seller (e.g., when the seller responds to awant ad listing). Further, as discussed herein, a single user can beboth a seller for one transaction offering and a buyer for anothertransaction offering.

The network 106 communicates digital data between one or more computingdevices, such as the user computing device 104 and the server 108. Thenetwork 106 can be a local area network or a wide area network, such asthe Internet. In at least some embodiments, the network 106 and thenetwork 112 are a single network, such as the Internet or the same localarea network.

FIG. 2 illustrates an exemplary architecture of a computing device 114that can be used to implement aspects of the present disclosure,including the server 108 or the user computing devices 104. One or morecomputing devices, such as the type illustrated in FIG. 2, are used toexecute the operating system, application programs, and software modules(including the software engines) described herein.

The computing device 114 includes, in some embodiments, at least oneprocessing device 120, such as a central processing unit (CPU). Avariety of processing devices are available from a variety ofmanufacturers, for example, Intel or Advanced Micro Devices. In thisexample, the computing device 114 also includes a system memory 122, anda system bus 124 that couples various system components including thesystem memory 122 to the processing device 120. The system bus 124 isone of any number of types of bus structures including a memory bus ormemory controller, a peripheral bus, and a local bus using any of avariety of bus architectures.

Examples of computing devices suitable for the computing device 114include a desktop computer, a laptop computer, a tablet computer, amobile phone device such as a smart phone, or other devices configuredto process digital instructions.

The system memory 122 includes read only memory 126 and random accessmemory 128. A basic input/output system 130 containing the basicroutines that act to transfer information within the computing device114, such as during start up, is typically stored in the read onlymemory 126.

The computing device 114 also includes a secondary storage device 132 inat least some embodiments, such as solid state memory technology, forstoring digital data. The secondary storage device 132 is connected tothe system bus 124 by a secondary storage interface 134. The secondarystorage devices and their associated computer readable media providenonvolatile storage of computer readable instructions (includingapplication programs and program modules), data structures, and otherdata for the computing device 114.

Although the exemplary environment described herein employs solid statememory technology as a secondary storage device, other types of computerreadable storage media are used in other embodiments. Examples of theseother types of computer readable storage media include hard disks,magnetic cassettes, flash memory or other solid state memory technology,digital video disks, Bernoulli cartridges, compact disc read onlymemories, digital versatile disk read only memories, random accessmemories, or read only memories. Some embodiments include non-transitorymedia.

A number of program modules can be stored in the secondary storagedevice 132 or the memory 122, including an operating system 136, one ormore application programs 138, other program modules 140, and programdata 142. The database 110 may be stored at any location in the memory122, such as the program data 142, or at the secondary storage device132.

In some embodiments, computing device 114 includes input devices 144 toenable users to provide inputs to the computing device 114. Examples ofinput devices 144 include a keyboard 146, pointer input device 148,microphone 150, and touch sensor 152. A touch-sensitive display deviceis an example of a touch sensor. Other embodiments include other inputdevices 144. The input devices are often connected to the processingdevice 120 through an input/output interface 154 that is coupled to thesystem bus 124. These input devices 144 can be connected by any numberof input/output interfaces, such as a parallel port, serial port, gameport, or a universal serial bus. Wireless communication between inputdevices 144 and interface 154 is possible as well, and includesinfrared, BLUETOOTH® wireless technology, 802.11a/b/g/n/ac, cellular orother radio frequency communication systems in at least some possibleembodiments.

In this example embodiment, a touch sensitive display device 156 is alsoconnected to the system bus 124 via an interface, such as a videoadapter 158. In some embodiments, the display device 156 is a touchsensitive display device. A touch sensitive display device includessensors for receiving input from a user when the user touches thedisplay or, in some embodiments, just gets close to touching thedisplay. Such sensors can be capacitive sensors, pressure sensors,optical sensors, or other touch sensors. The sensors not only detectcontact with the display, but also the location of the contact andmovement of the contact over time. For example, a user can move a fingeror stylus across the screen or near the screen to provide writteninputs. The written inputs are evaluated and, in some embodiments,converted into text inputs.

In addition to the display device 156, the computing device 114 caninclude various other peripheral devices (not shown), such as speakersor a printer.

When used in a local area networking environment or a wide areanetworking environment (such as the Internet), the computing device 114is typically connected to the network through a network interface, suchas a wireless network interface 160. Other possible embodiments useother communication devices. For example, some embodiments of thecomputing device 114 include an Ethernet network interface, or a modemfor communicating across the network.

The computing device 114 typically includes at least some form ofcomputer-readable media. Computer readable media includes any availablemedia that can be accessed by the computing device 114. By way ofexample, computer-readable media include computer readable storage mediaand computer readable communication media.

Computer readable storage media includes volatile and nonvolatile,removable and non-removable media implemented in any device configuredto store information such as computer readable instructions, datastructures, program modules, or other data. Computer readable storagemedia includes, but is not limited to, random access memory, read onlymemory, electrically erasable programmable read only memory, flashmemory or other memory technology, compact disc read only memory,digital versatile discs or other optical storage, magnetic cassettes,magnetic tape, magnetic disk storage or other magnetic storage devices,or any other medium that can be used to store the desired informationand that can be accessed by the computing device 114.

Computer readable communication media typically embodies computerreadable instructions, data structures, program modules or other data ina modulated data signal such as a carrier wave or other transportmechanism and includes any information delivery media. The term“modulated data signal” refers to a signal that has one or more of itscharacteristics set or changed in such a manner as to encode informationin the signal. By way of example, computer readable communication mediaincludes wired media such as a wired network or direct-wired connection,and wireless media such as acoustic, radio frequency, infrared, andother wireless media. Combinations of any of the above are also includedwithin the scope of computer readable media.

FIG. 3 is a flow chart illustrating an example method 220 of completinga transaction using the system 100 between a first user and a seconduser. In some embodiments, the method 220 is performed by the onlinemarketplace 102 using one or more processing devices (such as processingdevice 120, shown in FIG. 2). In this example, the method 220 includesoperations 222, 224, 226, 228, 230, 232, and 234.

At operation 222, the online marketplace 102 receives a listing,including seller-financing terms from a first user. The listingdescribes a transaction offering that the first user wishes to sell orlease to another user. Alternatively, the listing describes atransaction offering that the first user wishes to buy or lease fromanother. The listing includes a description of the transaction offering.The description can include one or more of textual, graphic, video, andaudio data relating to the transaction offering. Additionally, thedescription can include structured (e.g., the age of the transactionoffering) and unstructured data (e.g., a narrative description of thetransaction offering). In addition, to describing the transactionoffering, the listing also describes payment terms, includingseller-financing terms, for the transaction offering. In addition, thelisting may specify that one or more of the payment terms are negotiableor that one or more of the payment terms are not negotiable. The listingis generated by the first user completing a form on a web site generatedby the online marketplace 102. Alternatively, the listing is generatedusing other methods such as by transmitting one or more photographs ofthe transaction offering to the online marketplace 102. In at least someother embodiments, the listing is generated using other methods.

At operation 224, the online marketplace 102 transmits the listing and aprofile of the first user to a second user. In at least someembodiments, the online marketplace 102 transmits the listing to thesecond user in response to a search request made by the second user. Forexample, the second user may enter a search term that describes anaspect of a transaction offering into a form on a web site generated bythe online marketplace. Alternatively, the listing is transmitted to thesecond user in response to a browse request made by the second user. Forexample, the second user may select a category (or subcategory) of typesof transaction offerings from a list on a web site generated by theonline marketplace 102. As another alternative, the listing istransmitted in response to a search made using a search engine such asthe BING search engine from MICROSOFT® Corporation of Redmond, Wash. orthe GOOGLE search engine from GOOGLE® Inc. of Mountain View, Calif.Additionally, the listing may be transmitted via e-mail or social mediain response to a request from the first user, the second user, oranother user. In at least other embodiments, the listing is transmittedusing other methods.

In some embodiments the online marketplace 102 transmits a profile ofthe first user along with the listing. The profile includes profileinformation that the second user can review to determine whether toenter into a transaction with the first user. For example, the profileincludes in at least some embodiments information about pasttransactions to which the first user has been a party. Alternatively,the online marketplace 102 may transmit a summary profile of the firstuser along with the listing. The summary profile may include a summaryof the profile information available for the first user. For example,the summary profile may include a single score, such as a trust score(which is described in greater detail below). Additionally, in someembodiments, the profile of the first user is not transmitted with thelisting. Instead, the profile of the first user is transmitted to thesecond user after the second user indicates a desire to the profile,such as by following a link on a web page generated by the onlinemarketplace. Additionally, the online marketplace 102 may transmit theprofile of the first user to the second user upon receiving anindication that the second user wishes to respond to the listing. Otherembodiments are possible as well.

At operation 226, the online marketplace 102 receives an offer for thetransaction offering from the second user. Additionally, in someembodiments, the online marketplace 102 receives multiple offers for thetransaction offering from multiple users. The online marketplace 102 mayinclude interfaces to receive the offer using various methods. Forexample, the online marketplace 102 can receive the offer when thesecond user submits a form or clicks a button on a web page generated bythe online marketplace 102. Additionally, the online marketplace 102 canreceive the offer from the second user via e-mail, social media, or textmessaging. Sometimes, the offer include terms that mirror the termsdescribed in the listing. Alternatively, the offer may include termsthat alter at least one of the terms described in the listing. In someembodiments, the online marketplace 102 permits the second user tomodify terms in the offer only when the first user has specified thatthe term is negotiable in the listing.

At operation 228, the online marketplace 102 transmits the offer and theprofile of the second user to the first user. The offer can betransmitted to the first user via e-mail, social media, text message, orother messages. In some embodiments, the offer is transmitted to thefirst user when the user accesses a web page generated by the onlinemarketplace 102. The profile of the second user is similar to theprofile of the first user and includes information that the first usercan review to determine whether to enter into a transaction with thesecond user. In at least some embodiments, the profile of the seconduser is transmitted to the first user with the offer. Alternatively, theprofile of the second user is transmitted to the first user separatelyfrom the offer, such as in response to the first user following a linkin an e-mail, a social media message, or on a web page. Otherembodiments are possible as well.

At operation 230, the online marketplace 102 receives an acceptance ofthe offer from the first user. The online marketplace 102 can receivethe acceptance in many different ways in different embodiments. Forexample, in some embodiments, the acceptance is received when the firstuser follows a link, submits a form, or clicks a button on a web pagegenerated by the online marketplace 102. Alternatively, the acceptanceis received by the online marketplace 102 via e-mail, text message, orsocial media. Other embodiments are possible as well.

Additionally, rather than receiving an acceptance, the onlinemarketplace 102 can also receive a counter-offer. The counter-offervaries one or more of the terms presented in the offer.

At operation 232, the online marketplace 102 manages payments betweenthe first user and the second user. When the transaction involves thefirst user selling a transaction offering to the second user, the seconduser will generally make one or more payments to the first useraccording to the agreed upon payment terms of the transaction. In atleast some embodiments, the online marketplace 102 operates to receivethe payments from the second user and transmit the payments to the firstuser. In this manner, the online marketplace 102 can verify and recordthat the payments are made according to the agreed upon terms of thetransaction. Alternatively, the online marketplace 102 can receive anindication that the payment has been made and received. For example, insome embodiments, the second user makes payments to the first user usingthe PayPal® payment service from eBay® of San Jose, Calif. Additionally,various embodiments operate to receive or transmit payments throughintermediary payment services or technologies such as Facebook Messengerfrom Facebook, Inc. of Menlo Park, Calif.; WhatsApp from WhatsApp Inc.,of Mountain View, Calif.; Twitter from Twitter, Inc. of San Francisco,Calif.; SMS; e-mail; and other payment services or technologies. In someembodiments, users use one or more payment services or technologies tomake payments to another user via the online marketplace 102 (e.g., thepayment is first received by the online marketplace 102 and then theonline marketplace 102 makes a payment to the other user) or directly.

At operation 234, the online marketplace 102 updates the profiles of thefirst user and second user. The profiles are updated based on whetherthe first user and the second user perform according to the terms of theagreed upon transaction. The profiles may be updated based on a reviewof the other user in the transaction. For example, the first user canprovide a review of the second user and the second user can provide areview of the first user. The reviews can be textual, numeric ratings(e.g., a score of 0-100), or both. In at least some embodiments, theonline marketplace 102 operates to allow the first user and the seconduser to enter or update the review while the transaction is active. Theprofiles are also updated based on whether the payments were properlymade during operation 232. In at least some embodiments, the onlinemarketplace 102 updates the profiles of both the first user and thesecond user with a transaction coin to indicate that a transaction wassuccessfully completed. If the transaction was not completedsuccessfully, the online marketplace 102 updates the profiles of atleast one of the first user and the second user with a tarnishedtransaction coin.

FIG. 4 illustrates an exemplary architecture of the marketplace withseller financing engine 109 of the server 108. The marketplace withseller financing engine 109 includes one or more modules that, whenexecuted by the processing device 120 (shown in FIG. 2), perform one ormore operations of the server 108. The engines include an accountmanagement engine 290, a listing engine 292, a browse/search engine 294,a hold engine 296, a transaction engine 298, a payment engine 300, arenegotiation engine 302, a reputation engine 304, an insurance engine306, a neighborhood engine 308, a communication engine 310, and a userinterface engine 312. At least some embodiments include more, fewer, ordifferent engines than those shown in FIG. 4.

The account management engine 290 operates to manage accounts for usersof the online marketplace 102. In at least some embodiments, the accountmanagement engine 290 allows an individual or entity to register as auser of the online marketplace 102 and to log in and out of the onlinemarketplace 102. In at least some embodiments, the account managementengine 290 operates to associate an account with one or more socialmedial accounts so that the online marketplace 102 can do one or more ofallowing the user to login using the social media account and posting tothe social media account on behalf of the user. In some embodiments theaccount management engine operates to perform user verification andaward one of a plurality of user verification levels to the usersdepending on the completion of one of a plurality of verificationprocesses, as discussed in further detail herein.

The listing engine 292 operates to receive, store, and update listingsfor transaction offerings. The browse/search engine 294 operates tobrowse and search the listings in the online marketplace 102. The holdengine 296 operates to hold a transaction offering available in theonline marketplace 102 based on hold terms specified in the listing.

The transaction engine 298 operates to manage the negotiation oftransactions in the online marketplace 102, including offers andcounter-offers and the agreement to the terms of a transaction. Althoughthe transactions often involve payments, in at least some embodiments, auser may elect to donate a transaction offering to the onlinemarketplace 102 or to another user. In these embodiments, the receivinguser may need to accept the transaction offering to complete thetransaction.

The payment engine 300 operates to manage the payments between usersaccording to an agreed upon transaction. In some embodiments the paymentengine 300 operates to monitor compliance with the terms of theseller-financed transactions including receipt of payments over timefrom the buyer. Additionally, in some embodiments the payment engine 300operates to manage the payments, which can include sending out periodicbills or reminders to buyers, notifying buyers and sellers if a paymentis coming due, notifying buyers and sellers if a payment is past due,and the like. In some embodiments the payment engine 300 utilizespredefined payment methods to automatically deduct a payment from apayment account of the buyer to make payments or when a payment is pastdue. In some embodiments the payment engine imposes penalties on thebuyer if payments are not made on time, such as by charging a late fee,increasing an interest rate for the transaction, locking the buyersaccount to prevent further transactions in the online marketplace, andthe like. In some embodiments the payment engine 300 informs thereputation engine 304 of conformance (including non-conformance) to theterms of the transaction, and the reputation engine updates the user'sreputation data (including the trust score) accordingly, as discussed infurther detail herein. Accordingly, in some embodiments the paymentengine 300 automatically manages the transaction for both the buyer andthe seller. For example, in some embodiments the seller does not have tosend reminders or late notices, and does not have to contact, beg,threaten, or take other enforcement actions against the buyer in orderto obtain conformance with the terms of the agreement. Additionally, insome embodiments the buyer is assisted in following the terms of theagreement by receiving bills or reminders, or by having the paymentsautomatically made on behalf of the buyer.

Further in some embodiments, the payment engine 300 operates to sendvarious compliance notices related to transactions. The compliancenotices may be required by laws or regulations applicable to the buyeror seller or by policies of the online marketplace 102. Examples of thecompliance notices include collection notices, late payment notices,eviction notices, scam notices, illegal activity notices, etc. Thesecompliance notices may be sent to either buyers or sellers asappropriate in the circumstances. Further, these compliance notices maybe partially or fully prepopulated with the information required by theapplicable laws, regulations, or policies.

The renegotiation engine 302 operates to allow users to propose andaccept adjustments to the terms of a transaction.

The reputation engine 304 operates to manage reputation data for users,including information relating to reputations of users in the onlinemarketplace system and the performance of that user in pasttransactions. In some embodiments, the reputation engine 304 generates auser trust profile. The trust profile contains reputation data and isconfigured to allow the both buyers and sellers to evaluatetrustworthiness of each other prior to entering into seller-financedtransactions. Reputation data includes, for example, reputational factordata, described in further detail herein. In some embodiments the trustprofiles include trust scores. The trust scores are also used by partiesto evaluate the trustworthiness of the other party. Some embodiments ofthe reputation engine 304 generate additional scores for variouspurposes. For example, some embodiments allow users to schedule meetings(e.g., in person, by phone or videoconference, etc.) and the reputationengine 304 may generate a meeting accountability score based on feedbackfrom users about whether a particular user attended a scheduled meetingin a timely manner. In some embodiments, users may leave feedback aboutmeeting attendance for a particular user regardless of whether theyactually enter a transaction with the user.

The insurance engine 306 operates to allow users to obtain insurancethat to cover transactions the user enters using the online marketplace102. The insurance may provide assurance to the seller that paymentswill be made. Obtaining insurance is just one example of providingpayment assurance. Some embodiments include other techniques forproviding payment assurance to users as well. In some embodiments,either the buyer or seller (or both) may be able to purchase (orotherwise secure) payment assurance for a transaction.

The neighborhood engine 308 operates to manage the neighborhood of usersof the online marketplace, including adding users to each other'sneighborhoods, soliciting users in neighborhoods, and filtering listingsto those in a neighborhood. Additionally, some embodiments of theneighborhood engine 308 allow users to send neighborhood invitations toother users or potential users through various social media tools.

The communication engine 310 operates to communicate with users of theonline marketplace and to allow users to communicate with each other.The user interface engine 312 operates to generate a user interface toaccess the online marketplace. In at least some embodiments, the userinterface comprises a plurality of interconnected web pages or agraphical user interface in an application. Other embodiments arepossible as well.

FIG. 5 illustrates an exemplary architecture of the database 110. In atleast some embodiments, the database 110 stores user profile data 360,listing and category data 362, transaction and payment data 364,reputation data 366, and transaction review data 368.

The user profile data 360 includes one or more tables containing dataabout the users of the online marketplace 102. For example, the userprofile data 360 can include contact information and bank account orpayment option information for users.

The listing and category data 362 includes one or more tables containingdata about the categories and listings of transaction offerings on theonline marketplace 102. In at least some embodiments, the categories areorganized hierarchically and the listings are associated with at leastone category.

The transaction and payment data 364 includes data related totransactions that have been agreed to using the online marketplace 102.The transaction and payment data 364 can also include historicalinformation about payments that have been made and upcoming paymentsthat are coming due for a transaction.

The reputation data 366 includes information relating to the reputationsof users and the performance of transactions by users. In someembodiments, the reputation data 366 includes reputational factor dataand trust score data. For example, the reputational factor data caninclude a rating of a transaction for a user that is entered by theother party to the transaction. Additionally, the reputational factordata can include information that is automatically generated by theonline marketplace 102 based on whether the user has made payments ordelivered the transaction offerings consistent with the terms of theagreed upon transaction. Additionally, the reputational factor data caninclude information about the verification level of the user. In atleast some embodiments, the trust score data includes a single scorethat represents an overall trust score for a user that is based on someor all of the reputational factor data for that user.

The transaction review data 368 includes information provided by oneuser that reviews the performance of another user. The transactionreview data 368 can include textual descriptions of a transaction andusers performance of the transaction. In some embodiments, thetransaction review data 368 includes various standard descriptions of atransaction such as “service provided as described,” “product damaged,”“all payments made on time,” or “one or more late payments.”

FIG. 6 is a flow chart illustrating an example method 490 of generatinga user interface for the online marketplace 102 using the system 100. Insome embodiments, at least some operations of the method 490 areperformed by the user interface engine 312 using a processor (such asprocessing device 120, shown in FIG. 2). In this example, the method 490includes operations 492, 494, 496, 498, 502, 504, 506, 508, 510, 512,514, 516, 518, 520, and 522.

At operation 492, the user interface engine 312 generates and transmitsa home page to a user. The home page may be transmitted over the network106 to the user computing devices 104. In some embodiments, the homepage includes images and textual descriptions of at least some of thetransaction offerings available using the online marketplace 102. Otherembodiments include additional information on the home page.

At operation 494, it is determined whether the user wishes to login. Inat least some embodiments, the user interface engine 312 determines thata user wishes to login based on the user following a link on the homepage. Alternatively, the user interface engine 312 prompts the user toask whether the user wishes to login. If the user does wish to login,the method proceeds to operation 496. If the user does not wish tologin, the method proceeds to operation 522.

At operation 496, it is determined whether the user has an existingaccount. If the user does not have an existing account, the methodproceeds to operation 498. At operation 498, the user is prompted tocreate a new account and verify profile information. Example methods ofcreating user accounts are described in more detail below. However, ifthe user does have an existing account, the method proceeds to operation502.

At operation 502, the user may enter login information (e.g., a username, e-mail address, and password). In at least some embodiments, theuser enters the login information directly on the home page or any otherpage. Additionally, the user can enter login information on a separatelogin page that may be accessed by following a link on the home page orany other page. In at least some embodiments, the user enters logininformation in a pop-up window that maintains contextual informationabout the user's interaction with the online marketplace 102 (e.g.,which transaction offering the user is viewing, etc.). Additionally, insome embodiments, the user enters login information as part of theprocess of making an offer for a transaction offering. In someembodiments, the online marketplace 102 transmits a cookie to the userthat can be stored by the user's computing device and is used in futurecommunication with the online marketplace 102 to identify the user. Thecookie may be used to allow a user to remain logged-in for a certaintime period without entering login information. Additionally, in someembodiments, the user is automatically logged-in based if the user islogged-in to a social media account associated with the user's account.Other embodiments are possible as well. In at least some embodiments,once the user logs-in to the online marketplace 102, the username andsome information about the user is shown, such as the user's trustscore, number of transaction coins earned, profile verification status,rating, and the length of time the user has had an account with theonline marketplace 102.

At operation 504, the user is presented with a variety of options aftersuccessfully logging in. In some embodiments, the options includebuying, selling, or browsing through transaction offerings; setting upan account receivable payment plan for an existing debt; viewing andcommunicating with other users in the user's neighborhood; and modifyingaccount settings.

At operation 506, it is determined whether the user wants to list atransaction offering for sale. If so, the method proceeds to operation508, where the listing is posted. Method for posting listings aredescribed in more detail below. If not, the method proceeds to operation510.

At operation 510, it is determined whether the user wants to setup anaccount receivable. If the user wishes to setup an account receivable,the method proceeds to operation 512, where the account receivable issetup. In at least some embodiments, the account receivable is based ona pre-existing debt. For example, the account receivable can be based onfees incurred for professional services (e.g., legal or accountingfees). In at least some embodiments, a first party enters payment termsfor the account receivable and sends the terms to a second party. Theterms may be sent to an inbox maintained by the online marketplace 102that is associated with the second party. Additionally, the terms may besent via e-mail, text messaging, social media, voice communication,postal mail, or other external methods as well. The second party canthen accept the proposal and complete the payments to the first partyusing at least some of the tools of the system 100, such as the paymentengine 300. Alternatively, the second party can pre-approve proposalsfrom the first party if the first party is trusted (e.g., a professionalservices provider). Beneficially, the system 100 can alleviate thetension and administrative overhead associated with collecting debts.

Additionally, in some embodiments, an account receivable isautomatically created based upon a transaction being completed at anexternal location (i.e., external to the marketplace), such as on aseparate site (e.g., an e-commerce website) or in a brick-and-mortarstore. For example, an e-commerce website (or other external location)could offer a seller-financed payment option using the system 100. Thepayment option could require that fifty percent of the purchase price bepaid at the time of the purchase, and the remainder be paid in sixmonthly payments with five percent interest. Then, whenever a visitor tothe e-commerce website chose the seller-financed payment option, anaccount receivable would automatically be setup in the system 100between the operator of the e-commerce web site and the purchaser. In atleast some embodiments, the operator of the e-commerce website maychoose to review (e.g., look at the potential purchaser's trust score)all potential purchases made using seller financing before entering intothe transaction. Alternatively, the operator of the e-commerce site candefine criteria for automatically approving potential purchasers such asa minimum trust score and number of completed transactions.Alternatively or additionally, the visitor could use the system 100 tomake an offer and negotiate with the operator of the external location.Additionally, in some embodiments, after the transaction is processedusing the system 100, it may be transferred back to the externallocation for further completion (e.g., product/service delivery, orderfulfillment, etc.). In at least some embodiments, a confirmation is sentto the external location that the transaction is complete or that abinding contract has been negotiated. Similarly, other externallocations can also offer seller-finances payment options using thesystem 100. For example, a point-of-sale (POS) system in abrick-and-mortar store that offers seller-financed transactions cancreate an account receivable in the system 100 upon completion of thetransaction at the POS.

If the user does not want to setup an account receivable, the methodcontinues to operation 514. At operation 514, it is determined whetherthe user wants to view or edit account information. If the user doeswant to edit or view account information, the method proceeds tooperation 516. At operation 516, the user can update various accountinformation using the account management engine 290. The variousinformation that is stored in a user account is described in greaterdetail below. In some embodiments, the user can access an inboxcontaining messages from other users while viewing the accountinformation.

If the user does not want to view or edit account information, themethod continues to operation 518. At operation 518, it is determinedwhether the user wants to access the neighborhood. If the user does wantto access the neighborhood, the method proceeds to operation 520, wherethe user accesses the neighborhood. Within the neighborhood, a user cansolicit neighbors to enter into transactions, make payments, orotherwise use the system 100. A user can also invite users and non-usersalike to join the user's neighborhood. In some embodiments, if anon-user accepts the invitation to join the user's neighborhood andregisters with the online marketplace 102, the online marketplace 102awards an incentive (e.g., a voucher for paying fees or makingpurchases) to the user. The neighborhood is described in more detailbelow. If the user does not want to access the neighborhood, the methodproceeds to operation 522.

At operation 522, the user interface engine 312 generates a userinterface for browsing or searching transaction offerings. In at leastsome embodiments, the user interface includes a list of top-levelcategories. Additionally, the list can include the number of transactionofferings available in each of the top-level categories. The userinterface can also include more detailed categories and various searchand filtering capabilities. The search and browse functionality isdescribed in more detail below. In at least some embodiments, the searchand browse capability can be accessed by users that are logged in andthat are not logged in.

FIG. 7 is a flow chart illustrating an example method 570 of browsingand searching listings using the system 100. In some embodiments, atleast some operations of the method 570 are performed by thebrowse/search engine 294 using a processor (such as processing device120, shown in FIG. 2). In this example, the method 570 includesoperations 572, 574, 576, 578, 580, 582, 584, 586, 588, and 590.

The method 570 operates to present a user interface for users to locatetransaction offerings that they are interested in. The transactionofferings can be located by searching or browsing. In at least someembodiments, anyone who access the online marketplace 102 can browse orsearch for listings. However, typically, a user will need to log in tothe system 100 in order to make an offer for a transaction offering.

The listings for transaction offerings can be categorized. Thecategories may be organized hierarchically, having top-level categoriesthat are subdivided into sub-categories. The sub-categories may befurther subdivided into successively more specific sub-categories as isnecessary and useful to help users locate transaction offerings. As anexample, in at least some embodiments, the top level categories include“Real Estate,” “Businesses,” “Jewelry,” “Tickets,” “Electronics,”“Designer Clothes,” “Vehicles,” “Services,” “Vacations,” “Animals/Pets,”“Hardware Store,” “Grocery Store,” and “Wanted.” The top-level category“Real Estate” is subdivided into the subcategories “Single Family Home,”“Parking Stalls,” and “Rentals.” The subcategory “Rentals” can befurther subdivided into the subcategories “Residential,” and“Commercial.” Some embodiments allow further subdivision.

At operation 572, the user selects a category or enters a term into asearch field. At operation 574, it is determined whether the userentered a term into the search field. If yes, the method 570 proceeds tooperation 576. If no, the method 570 proceeds to operation 586.

At operation 576, a list of listings of transaction offerings thatmatches the search terms is displayed. The list may be presented invarious ways. In at least some embodiments, the list is sorted based onwhen the listing was posted. Additionally, the user interface includescontrols to sort the list according to various criteria such as price,trust score of the user who listed the transaction offering, and variouspayment terms. Other embodiments allow the list to be sorted byadditional criteria as well. The user interface may divide the list intomultiple pages, showing only a portion of the matching listings on eachpage. Further, the user interface may show only a summary or preview ofeach matching listing.

At operation 578, it is determined whether the list includes one or moretransaction offerings that the user is interested in. If so, the methodproceeds to operation 580. If not, the method returns to operation 572,where the user may resume browsing categories or entering search terms.

At operation 580, additional information is displayed for the one ormore transaction offerings that the user is interested in. Examples ofadditional information include a detailed description, payment terms,including seller-financing terms, photos, etc. In at least someembodiments, the additional information also includes the number ofusers who have viewed the listing and the number of offers made for thetransaction offering in the listing. Other embodiments may includedifferent additional information that is displayed when a user indicatesthat an item in the list may be of interest.

At operation 582, it is determined whether the user would like to buythe transaction offering or hold the transaction offering. If so, themethod proceeds to operation 584, where the user may make an offer forthe transaction offering. Making an offer is described in more detailbelow.

At operation 586, the user selects a category of interest. At operation588, it is determined whether the user would like to select asubcategory. If the user would like to select a subcategory, the methodcontinues to operation 590, where the user may select a subcategory. Themethod then returns to operation 588, where it is again determinedwhether the user would like to select a subcategory. This continuesuntil the user has selected subcategories to a sufficiently detailedlevel. When it is determined that the user does not wish to selectanother subcategory, the method proceeds to operation 576. In at leastsome embodiments, the categories and subcategories are based on theStandard Industrial Classification (SIC) or the North American IndustryClassification System (NAICS). For example, the categories may span abroad range of SIC or NAICS classifications including multiple divisionsor major groups. In some embodiments, the wherein the listings oftransaction offerings include transaction offerings across a pluralityof different product categories, wherein the product categories areselected from multiple divisions or major groups as defined in the 1987version of the SIC manual or from multiple sectors as defined in theofficial 2012 NAICS manual.

Additionally, in at least some embodiments, the browse and searchfunctionality are integrated into a single interface. In this manner, auser may browse by category the listings that match a particular searchterm. Similarly, the user may search within the listings in a particularcategory. Additionally, the interface may allow the user to post a wantad listing describing an item the user wants if searching and browsingdoes not successfully identify the item.

FIG. 8 is a flow chart illustrating an example method 660 of creating auser account using the system 100. In some embodiments, at least someoperations of the method 660 are performed by the account managementengine 290 using a processor (such as processing device 120, shown inFIG. 2). In this example, the method 660 includes operations 662, 664,666, 668, 670, 672, 674, 676, 678, 680, 682, 684, 686, 688, 690, and692.

At operation 662, the user indicates that he or she wishes to create anew user account. Accounts can be associated with individuals orbusiness entities. In at least some embodiments, accounts that areassociated with business entities are also associated with anindividual.

At operation 664, a unique username is selected. The user may select auser name by typing in a user name. Alternatively, the accountmanagement engine 290 may suggest one or more candidate user names. Inat least some embodiments, an e-mail address is used as the unique username.

At operation 666, it is determined whether the candidate user nameentered at operation 664 is unique. In some embodiments, the uniquenessof the user name is verified by querying a user table in a database foruser names that are identical to the candidate user name. If the usertable already contains a user name that matches the candidate user name,it is determined that the user name is not unique. If the user name isnot unique, the method 660 returns to operation 664.

At operation 668, the user enters a password. In at least someembodiments, the password must be entered twice and must match. In thismanner, it is less likely that a typographical error will result in thepassword being set incorrectly. Additionally, the password can besubject to various security requirements, such as a minimum length andthe inclusion of certain types of character (e.g., number, symbol, lowercase, upper case, etc.).

At operation 670, personal information is entered by the user andreceived by the account management engine 290 to start the verifyprofile process. In at least some embodiments, there is both requiredpersonal information and optional personal information. Examples ofrequired personal information include e-mail address, full name (e.g.,first name, middle name or middle initial if applicable, and last name),date of birth, last four digits of social security number forindividuals, federal tax identification number for business entities,gender, home address, phone number, bank account name, bank accountnumber, and bank account routing number. In at least some embodiments,there are more, fewer, or different types of required personalinformation. Examples of optional personal information include shippingaddress (if different than home address), driver's license number ofstate identification number, employer name, work address, schoolhistory, photograph, alternate phone number, emergency contact, links tosocial media accounts (e.g., Facebook, Twitter, LinkedIn, Google+,Instagram, etc.), information (e.g., login information) to access andpost to social media accounts, credit or debit card numbers, andpersonal narrative. In at least some embodiments, there are more, fewer,or different types of optional personal information. Additionally, in atleast some embodiments, some of the examples of optional personalinformation may be required and some of the examples of requiredpersonal information may be optional.

The personal information the is entered can be protected and subject tovarious privacy policies. For example, the personal information may beprotected and only shared after the parties have entered into atransaction. In that case, only the personal information required tocomplete the transaction (e.g., name and address) is shared between theparties.

At operation 672, the account information is verified. In at least someembodiments, one or more of the e-mail address, mailing address, phonenumber, and bank account information are verified. The e-mail addresscan be verified by sending an e-mail message that contains averification link to the e-mail address. The mailing address can beverified by sending a physical letter that includes a verification code.The phone number can be verified by sending a text or voice message thatincludes a verification code to be entered. The bank account can beverified by making a small deposit or withdrawal. Alternatively, thepersonal information can be verified using different techniques. In atleast some other embodiments, more, fewer or different personalinformation is verified. In at least some embodiments, the verificationof personal information is repeated one or more times if the personalinformation is not successfully verified initially.

At operation 674, it is determined whether the personal information wassuccessfully verified. If the personal information was successfullyverified, the method 660 continues to operation 678. If not, the method660 returns to operation 670, where the user can check or update thepersonal information. In at least some embodiments, the user is sent ane-mail to indicate that the personal information needs to be reviewed.Alternatively, an error message is displayed for the user after login ifthe personal information needs to be reviewed.

At operation 678, the user is prompted to review and accept the termsand conditions and fee structure. At operation 680, the user is awardeda verification badge (e.g., a Silver Verified Badge) that indicates theuser has completed the verification process. The verification badge canbe displayed as an icon next to the user's username and on the user'sprofile page. Other embodiments include other methods to indicate thatthe user has completed the verification process. Additionally, in atleast some embodiments, the user is granted full access to the siteafter being verified (e.g., the user can post listings, the user canmake offers, etc.). Awarding a Silver Verified Badge is one examplemethod of indicating that the user has completed the verificationprocess. In other embodiments, different methods are used to indicatethat the user has completed the verification process.

At operation 682, it is determined whether the user entered variousoptional personal information. In at least some embodiments, one or moreelements of the optional personal information is verified using variousmethods. If the user has entered the optional personal information, themethod 660 proceeds to operation 684, where the user is awarded anadditional verification badge (e.g., a Gold Verified Badge) thatindicates that the user has completed the optional verification process.Like the Silver Verified Badge, the Gold Verified Badge can be displayednext to the user's username and on the user's profile page. Awarding aGold Verified Badge is one example method of indicating that the userhas completed an optional verification process. In other embodiments,different methods are used to indicate that the user has completed anoptional verification process. Additionally, in at least someembodiments, additional verification processes are included that awardadditional badges or other indicia of completion.

At operation 686, the user can configure preferences. Examples ofpreferences include whether the default behavior should be to browseregional, national, or international listings; a default time zone; apreferred currency; and a preferred offer communication method (e.g.,e-mail, text, social media, etc.). Other embodiments include more,fewer, or different preferences.

At operation 688, the user is prompted to buy a profile insurancepolicy. Some embodiments provide an opportunity to purchase other formsof payment assurance as well. In some embodiments, payment assurance isprovided by a policy purchased from the online marketplace 102. In otherembodiments, payments assurance is provided by an insurance policyprovided by a third party. The insurance policy covers the transactionthe user enters up to a predetermined coverage amount. The price of theinsurance is based on the user's trust score and the coverage amount.Additionally, in some embodiments, the price of the insurance is basedon additional factors such as a credit score (e.g., a FICO score) forthe user (or for the other user). In some embodiments, the user mayprovide the credit score. Additionally, in some embodiments, the creditscore is verified by, for example, a credit bureau. The insurance coversall transactions until the cumulative transaction amount is greater thanthe predetermined coverage amount. Alternatively, the insurance coversall transactions that are individually below the predetermined coverageamount. Additionally, additional insurance can be purchased forindividual transactions as well. Other embodiments are possible.

If the user does purchase insurance, the method 660 proceeds tooperation 690. At operation 690, the user is awarded an insurance badge.The insurance badge can be displayed next to the user's username and onthe user's profile page. The presence of the insurance badge can providepeace of mind to the other party as the insurance will covernonperformance of the transaction. In this manner, a user may increasethe likelihood of completing a transaction by purchasing insurance.

At operation 692, the user's trust score is calculated at least in partbased on the verification level completed. The process of calculating atrust score is described in more detail below.

FIG. 9 is a flow chart illustrating an example method 740 of creating alisting on the online marketplace 102 for a transaction offering. Insome embodiments, at least some operations of the method 740 areperformed by the listing engine 292 using a processor (such asprocessing device 120, shown in FIG. 2). In this example, the method 740includes operations 742, 744, 746,748, 750, 752, 754, and 756.

At operation 742, a user selects “post” to start the process ofgenerating and posting a listing for a transaction offering. The usercan select post by following a link on the home page. Alternatively, theuser can select post by following links on other pages or activating abutton or other user interface element in a user interface generated byan application. Other embodiments are possible as well.

At operation 744, the user selects a category and one or moresubcategories to describe that are appropriate for the transactionoffering. In at least some embodiments, the user selects the categoriesand subcategories from a hierarchical list displayed on a userinterface. In at least some embodiments, the user interface initiallyhides subcategories until a top-level category has been selected. Thenthe appropriate sub-categories are displayed in the list. Additionally,in at least some embodiments, the user may select multiple categoriesthat are appropriate to describe the transaction offering. Otherembodiments are possible as well.

At operation 746, the user enters information about the transactionoffering. Depending on the type of transaction offering various types ofinformation may be required or option. Examples of required informationinclude title, description, and location. Example of requiredtransaction terms include price, down payment amount, interest rate,number of payments, payment frequency, date of first payment, deliveryoption (e.g., ship, pick up, third-party delivery, etc.), and whetherlayaway is available. Examples of optional information include photos.Examples of optional transaction terms include a hold amount and timeperiod, whether multiple or adjustable interested rates are applied, aballoon payment amount, whether auto-pay is required, a prepaymentpenalty amount, whether the transaction offering is being provided“AS/IS,” whether a warranty is included and the terms of that warranty,whether insurance (or another form of payment assurance) is required,and whether there is an expiration date (e.g., for a service beingpurchased). Additionally, in some embodiments, the user can specifywhether a counter-offer will be considered for each of the terms. Inthis manner, the user can indicate to users who review the listingwhether certain terms are negotiable. Beneficially, this may facilitatereaching an agreement on a transaction by focusing the negotiation onpoints where the parties are flexible and avoiding offers that will notbe considered by the user who posts the listing. In other embodiments,there are more, fewer, or different optional and required terms.

The hold amount is a non-refundable amount that a user can pay to hold atransaction offering for the specified hold time period. During the holdtime period the user who posted the listing will not enter into atransaction with another user. If the user who paid the hold amountchooses to complete the transaction, the hold amount will be appliedtowards the transaction. If the user does not, the user who posted thelisting retains the amount paid as compensation for holding thetransaction offering. In at least some embodiments, the hold time periodis forty-eight hours. Other embodiments are possible.

At operation 748, a user interface is presented that displays the termsof the proposed listing. Additionally, the user interface displays atleast one of the projected cash flow and the return on investment basedon the terms of the proposed listing. The user can view this interfacebefore the listing is posted. Additionally, the user can view thisinterface after the listing is posted and when a counter offer isreceived. Additionally, in at least some embodiments, the interfacedisplays a comparison of the terms proposed in the listing and the termsin one or more of the offers.

At operation 750, the user can review the finished listing. A userinterface that includes the listing as it will be presented to usersbrowse through the online marketplace can be generated. In at least someembodiments, the user interface also includes amortization schedule thatis calculated based on the transaction terms specified by the buyer.Further, in at least some embodiments, the amortization schedule iscalculated after accounting for any fees charged by the onlinemarketplace 102.

At operation 752, it is determined whether the user approves of thelisting. If the user does approve the listing, the method 740 proceedsto operation 754, where the listing is posted and becomes viewable byother users. If the listing is not approved, the method 740 proceeds tooperation 756, where the user can edit the listing.

FIG. 10 is a flow chart illustrating another example method 810 of usingthe wanted category of listings with the system 100. In someembodiments, at least some operations of the method 810 are performed bythe listing engine 292 using a processor (such as processing device 120,shown in FIG. 2). In this example, the method 810 includes operations812, 814, 816, and 818.

At operation 812, the user selects the “Wanted” category. The “Wanted”category can be selected from the home page or while posting an item.Other embodiments are possible as well.

At operation 814, the user can chose to post to the “Wanted” category.The process of posting to the “Wanted” category is similar to the method740 of posting a listing. However, in at least some embodiments,listings in the “Wanted” category do not require that any of thetransaction terms be specified. Further, in at least some embodiments,the user can optionally specify some transaction terms in the “Wanted”listing.

At operation 816, the listing is posted and becomes viewable by othersusers of the online marketplace 102. At operation 818, another user canreview the “Wanted” listing and respond by making an offer to fulfil the“Wanted” request. In at least some embodiments, a user interface isgenerated that lists at least some of the “Wanted” listings.Beneficially, this user interface permits users to review “Wanted”listings and make offers to supply the “Wanted” listing. Users can earna profit by providing the transaction offering requested in the listingthrough the interest that will be received. Additionally, the party thatwants the transaction offering can acquire it with financing from athird party, even though financing may not be available in a store.

FIG. 11 is a flow chart illustrating an example method 870 of agreeingon a transaction using the system 100. In some embodiments, at leastsome operations of the method 870 are performed by the hold engine 296and the transaction engine 298 using a processor (such as processingdevice 120, shown in FIG. 2). In this example, the method 870 includesoperations 872, 874, 876, 878, 880, 882, 884, 886, 888, 890, 892, 894,896, 898, and 900.

At operation 872, it is determined whether a browsing user wishes tohold, make an offer for, or make a counter offer for a transactionoffering posted by a listing user. If the browsing user wishes to makean offer, the method proceeds to operation 874. If the browsing userwishes to make a counter offer, the method proceeds to operation 894. Ifthe browsing user wishes to hold the transaction offering, the methodproceeds to operation 898.

At operation 874, the browsing user enters a time limit for the offer.At operation 876, the browsing user selects a preferred method forcommunication about the offer. If the browsing user does not enter apreferred method, the browsing user's default method of communication isused.

At operation 878, the browsing user is prompted to decide whether topurchase insurance for the transaction. The user interface may displaythe cost of the insurance and user interface elements that the browsinguser can activate to indicate whether to purchase the insurance. If thebrowsing user chooses to purchase insurance, the method proceeds tooperation 880, where the insurance is purchased. Additionally, in atleast some embodiments, the browsing user can elect to apply a generalinsurance policy to the transaction. Additionally, in some embodiments,the browsing user may purchase (or otherwise acquire) another form ofpayment assurance for the transaction. Similarly, the listing user mayelect to acquire a form of payment assurance as well. In at least someembodiments, the price paid to acquire a form of payment assurance(regardless of which user is acquiring it) can be based on one or moreof a credit score and a trust score of the browsing user. Additionallyor alternatively, in some embodiments, the price paid to acquire a formof payment assurance can be based on other factors.

At operation 882, the browsing user can review the offer, including anamortization schedule based on the transaction terms of the offer. Atoperation 884, the browsing user decides whether to make the offer. Insome embodiments, a user interface is presented that prompts thebrowsing user to indicate whether the offer should be made. In someembodiments, the user interface may allow either user to indicate thatthe offer is a “walk away final offer.” In this manner, the user maybypass or terminate further negotiations. If the browsing user indicatesthe offer should be made, the method proceeds to operation 886, wherethe browsing user is prompted to accept the payment terms in the offerfor the life of the transaction. If, instead, the browsing userindicates that the offer should not be made, the method proceeds tooperation 894.

After the browsing user has accepted the payment terms, the offer iscommunicated to the posting user. At operation 888, both the browsinguser and the posting user may review one another's profiles, includingtrust scores, individual ratings, transaction coin awards, and badges.

At operation 890, the posting user decides whether to accept the offer.If the offer is accepted, the method proceeds to operation 892. Atoperation 892, the browsing user and the posting user are notified thatan agreement has been reached. Additionally, if other offers werepending for the transaction offering, the users who made the otheroffers are notified that the transaction offering is no longeravailable. The notification may include links to other similartransactions offerings that are still available. In some embodiments, auser interface that includes a graphical representation of a handshakeis generated. Beneficially, this handshake symbolizes the conclusion ofthe negotiations.

Alternatively, if the posting user does not accept the offer, the methodproceeds to operation 894, where the posting user is prompted to decidewhether to make a counter offer. If the posting user wishes to make acounter offer, the method proceeds to operation 896. Although theposting user may receive multiple offers from multiple other users, inat least some embodiments, the online marketplace 102 permits theposting user to enter into an active negotiation with only one user at atime. For example, the online marketplace 102 may permit the postinguser to make only a single counter offer at a time. Other embodimentsare possible as well.

At operation 896, the user (i.e., the browsing user or the posting userdepending on the circumstances) is prompted to adjust the transactionterms for a counter offer to the other user. In at least someembodiments, a user interface is generated that displays all of thetransaction terms and includes user interface elements to adjust atleast some of the transaction terms. Additionally, in at least someembodiments, the user interface only permits the browsing user to adjustthe terms of the transaction that the posting user has indicated arenegotiable. In at least some embodiments, a browsing user may specify(or a posting user may request) that a certain number of the finalpayments in a payment plan will be pre-payed. For example, a browsinguser may offer to pre-pay the final payment required under a proposedpayment plan to make the offer more enticing. Alternatively, thebrowsing user may offer to pre-pay multiple (e.g., the last two, three,or more) of the final payments under the payment plan. Although thereare many terms that can be specified in transactions, in at least someembodiments, the user can simply specify a payment price for immediatepayment (e.g., a “Buy Now” option). In these transactions, the browsinguser and the posting user do not need to agree to a payment plan.

At operation 898, the browsing user is prompted to enter a time limitfor the offer to hold. In at least some embodiments, this operation isnot performed as a default time limit or a time limit specified by theposting user is used instead.

At operation 900, the browsing user is prompted to review and accept thehold payment. In at least some embodiments, the browsing user is boundto make the hold payment if the posting user accepts it. Additionally,in at least some embodiments, the posting user species a hold amount andhold time period that pre-approved. In these embodiments, as soon as thebrowsing user confirms the hold payment, the payment is processed. Thebrowsing user will then have until the hold time period elapses to agreeto the transaction on the terms specified by the posting user.

FIG. 12 is a flow chart illustrating an example method 930 of processinga transaction using the system 100. For illustrative purposes, thismethod 930 is described in terms of a buyer and a seller. Buyers andsellers can include service providers and service acquirer as well aslenders/lessors and lendees, landlords and tenants, etc. In someembodiments, at least some operations of the method 930 are performed bythe performed by the payment engine 300, the renegotiation engine 302,the reputation engine 304, and the insurance engine 306 using aprocessor (such as processing device 120, shown in FIG. 2). In thisexample, the method 930 includes operations 932, 934, 936, 938, 940,942, 944, 946, 948, 950, 952, 954, 956, and 958.

At operation 932, it is determined whether the first payment is receivedfrom the buyer. In at least some embodiments, the payment is made to theonline marketplace 102. The payment can be made using a variety oftechniques, including credit card, debit card, bank account draft,payment service (e.g., Paypal, Google Pay, Amazon Payments, etc.), andvirtual currency (e.g., Bitcoin) transfer. If the payment is received inaccordance with the transaction terms, the method proceeds to operation934. It not, the method proceeds to operation 948.

At operation 934, the payment is processed by the payment engine 300. Insome embodiments, the payment engine 300 deducts fees for the onlinemarketplace 102 from the payment and can divide those fees between thebuyer and the seller. For example, fifty percent of the fee may be addedon to the payment the buyer makes, while the remainder is subtractedfrom the payment the seller is to receive. In at least some embodiments,the payment less fees is deposited in the seller's bank account. Inother embodiments, the fee is paid entirely by the seller or entirely bythe buyer. Once the payment is processed, a notice of successful paymentis communicated to both the buyer and the seller (e.g., via e-mail, textmessage, social media, voice mail, postal mail, etc.). Other embodimentsare possible as well.

In some embodiments, payments are held by the online marketplace 102 (oranother third party) for a predefined time period (e.g., 72 hours, aweek, two weeks, or a month) or until the occurrence of a specific event(e.g., the transaction offering is delivered/performed, the buyeracknowledges satisfactory delivery/performance of the transactionoffering, etc.). In this manner, some embodiments provide added security(e.g., “Deal Assurance”) for the buyer that the seller will complete thetransaction as agreed. In some embodiments, if the seller does notcomplete the transaction, the payment is returned to the buyer and theseller may be charged a non-compliance fee. In some embodiments, onlythe first payment is held by the online marketplace 102, and in otherembodiments, additional (or all) payments are held by the onlinemarketplace 102. For example, in some embodiments, payments may bereceived by the online marketplace 102 at any time, but are paid out tosellers on a weekly, bi-weekly, or monthly schedule.

Once the first payment is received, the buyer and seller may rate andreview each other once. Alternatively, the buyer and seller can rateeach other only after all payments have been made and the transaction iscomplete. The process for rating and reviewing users is described inmore detail below. Additionally, in at least some embodiments, the buyerand seller may view additional personal information (e.g., contactinformation) about one another in the user profiles. In someembodiments, at least some of the personal information (e.g., contactinformation) is made available between the buyer and the seller onlyafter the transaction has been entered into and a binding contract hasbeen formed, such as to respect the privacy of the buyer's and theseller's personal information. Additionally, the transaction may beshown on a user interface in a list of open transactions. The list mayinclude an amortization schedule and other information about thetransaction. In some embodiments, either the buyer or the seller maypropose a change to the transaction terms using the user interface.However, changes to the transaction terms only go into effect if boththe buyer and seller indicate agreement to the change using the userinterface.

At operation 936, uncolored transaction coins are awarded to the buyerand seller representing the transaction. The transaction coins will becolored in full when the transaction has been performed in full.Depending upon the total amount of the transaction, different types oftransaction coins are awarded. The transaction coins are described ingreater detail below.

At operation 938, the seller delivers or performs based on thetransaction terms. In at least some embodiments, the seller can record atracking number or other shipping or performance information for thetransaction using the user interface. However, in at least someembodiments, the seller does not deliver the transaction offering untilafter all payments are completed. For example, some embodiments supportlayaway transactions, where the transaction offering is provided to thebuyer after all payments have been made.

At operation 940, it is determined whether the buyer received thetransaction offering in accordance with the transaction terms. In someembodiments, the buyer may indicate that the transaction offering wassuccessfully received using the user interface. If the transactionoffering is successfully received, the method proceeds to operation 942.If the transaction offering is not successfully received, the methodproceeds to operation 952.

At operation 942, the future payments are made according to thetransaction terms. In at least some embodiments, the future payments aremade automatically based on a payment method specified by the buyer. Insome embodiments, the payment method identifies a commerce account(e.g., a bank account, credit card, debit card, PayPal account, etc.) touse to make the payment. In some embodiments, the buyer may changepayment methods one or more times throughout the transaction.

At operation 944, it is determined whether the payments were received.If the payments were received, the method proceeds to operation 946. Ifthe payments were not received, the method proceeds to operation 948.

At operation 946, the payments are processed. In at least someembodiments, notifications are communicated to the buyer and seller eachtime a payment is successfully processed. Additionally, in at least someembodiments, upon completion of the final payment, the transaction coinsawarded to the buyer and seller become fully colored.

At operation 948, the default by the buyer is processed. In at leastsome embodiments, notices are delivered to the buyer and sellerregarding the default. Additionally, in some embodiments, the seller'stransaction coin for the transaction is removed, while the buyer'stransaction coin is tarnished to warn others that the buyer defaulted onthis transaction. In some embodiments, the user interface provides toolsfor the buyer and the seller to privately work out a resolution to thedefault.

At operation 950, transaction insurance is applied if it is available.In this manner, the insurance may make some or all of the missingpayments.

At operation 952, which is performed when the transaction offering isnot received, the buyer initiates a dispute resolution process. In someembodiments, the buyer may use the user interface to send a message tothe seller to resolve the dispute and the dispute may be privatelyresolved between the buyer and seller. Additionally, in someembodiments, the buyer uses the user interface to file a claim with adispute resolution center of the online marketplace. A claim may befiled if the transaction offering is not delivered or performed inaccordance with the transaction terms.

At operation 954, it is determined whether the seller is in default. Thebuyer and seller may submit information to the dispute resolution centerusing the user interface. In some embodiments, the online marketplace102, may determine whether the seller performed and delivered orperformed the transaction offering according to the transaction terms.If the seller is found to be in default, the method proceeds tooperation 956. If the seller is not found to be in default, the methodproceeds to operation 942.

At operation 956, the seller default is processed. Generally, the sellerdefault is processed in a manner similar to the buyer default inoperation 948. However the transaction coins are processed differentlywhen the seller defaults. In at least some embodiments, the buyer'stransaction coin for the transaction is removed, while the seller'stransaction coin is tarnished to warn others that the seller defaultedon this transaction.

At operation 958, the buyer receives a refund of the down payment ifinsurance was purchased or applied to the transaction.

FIG. 13 is a flow chart illustrating an example method 990 of rating auser using the system 100. In some embodiments, at least some operationsof the method 990 are performed by the reputation engine 304 using aprocessor (such as processing device 120, shown in FIG. 2). In thisexample, the method 990 includes operations 992, 996, 998, 1000, 1002,1004, and 1006.

At operation 992, the reviewing user selects a user to rate or review.In at least some embodiments, the reviewing user can select a user toreview by following a link on a web page that lists all opentransactions. Additionally, in some embodiments, the reviewing user canalso follow a link that is displayed on a user profile web page orinterface. After the reviewing user has entered into a transaction withanother user, the reviewing user may rate and review may provide onerating for that user. In some embodiments, the rating and review may beedited over the life of the transaction. Alternatively, the rating andreview may be edited any time a transaction is active between the ratinguser and the user. As yet another alternative, the rating and review maynot be edited after it is entered in some embodiments. Other embodimentsare possible as well.

At operation 994, it is determined whether the reviewing user has anactive transaction with the selected user. In at least some embodiments,a transaction is considered active until all payments have been made.Alternatively, the transaction is considered active for a predeterminedtime period after the final payment is made. If it is determined thatthe reviewing user has an active transaction with the selected user, themethod proceeds to operation 996. If instead, the reviewing user doesnot have an active transaction with the selected user, the methodproceeds to operation 1006, where the interface is updated to indicatethat rating reviewing the selected user is not currently permitted.

At operation 996, it is determined whether the reviewing user haspreviously rated the selected user. For example, to determine whetherthe reviewing user has previously rated the selected user, thetransaction review data 368 in the database 110 can be queried formatching records. If the reviewing user has previously reviewed theselected user, the method proceeds to operation 998, where the priorrating and review is displayed in the interface so that it can beedited. If not, the method proceeds to operation 1000.

At operation 1000, the reviewing user provides a quantitative rating ofthe selected user. Examples of quantitative ratings include numericscores and letter grade scores. In some embodiments, the quantitativerating is entered as a number of stars. The maximum number of stars canbe five or it can be a different number.

At operation 1002, a written review is input. In some embodiments, thewritten review is optional. Additionally, some embodiments do notinclude a written review.

At operation 1004, the users trust score and average quantitative scoreis updated. For example, if the quantitative score is based on a starrating out of five stars. The users average quantitative score isupdated based on the number of stars entered in operation 1002. Theaverage quantitative score may be based on the average number of starsreceived over all transactions completed by the selected user since theaccount was created. Alternatively, the average quantitative score isbased on the average number of stars received over all transactionscompleted during a specified time period (e.g., during the past sixmonths). Additionally, the selected user's trust score is updated basedon the rating entered in operation 1002.

FIG. 14 is a flow chart illustrating an example method 1030 ofgenerating and updating a transaction coin for a transaction using thesystem 100. In some embodiments, at least some operations of the method1030 are performed by the reputation engine 304 using a processor (suchas processing device 120, shown in FIG. 2). In this example, the method1030 includes operations 1032, 1034, 1036, 1038, 1040, 1042, 1044, 1046,and 1048.

In at least some embodiments, transaction coins are awarded to users torepresent transactions in which the user has participated. Someembodiments award different types of transaction coins depending on thevalue of the transaction. For example, a transaction having a value of$0-250 is awarded a bronze transaction coin, a transaction having avalue of $251-1500 is awarded a silver transaction coin, a transactionhaving a value of $1501-5000 is awarded a gold transaction coin, and atransaction having a value greater than $5000 is awarded a platinumtransaction coin. In some embodiments, a user interface is generated fora user that displays the transaction coins that have been awarded to theuser. An example user interface also includes a variety of additionalprofile information about the user. Beneficially, a second user canconsider this profile information when deciding whether to enter into atransaction with the user.

In some embodiments, the user interface displays the various transactioncoins awarded to a user in a color that represents the transaction cointype. Additionally, in at least some embodiments, the transaction cointype or a letter representing the transaction coin type is displayed onthe user interface as well. Other indicia of transaction coin type areincluded in other embodiments as well. For example, the transactioncoins may be grouped by transaction coin type under headings thatindicate the transaction coin type. Additionally, in at least someembodiments, the user interface displays a letter on a transaction coinindicating the user's role in the transaction. For example, the lettersB or S may be displayed on transaction coins to indicate that the userwas a buyer or seller respectively.

In some embodiments, when a transaction coin is initially awarded it isnot fully colored. The user interface may show the transaction coin in atransparent or partially transparent color. Then, as the transaction isperformed, the transaction coin is colored in more. For example, thetransaction coin can become less transparent as more of the transactionis performed. Alternatively, a portion of the transaction coin thatcorresponds to the portion of the transaction that has been completedcan be colored. For example, when fifty percent of the payments requiredfor a particular transaction have been made, fifty percent of thecorresponding transaction coin can be colored in. Other embodiments arepossible as well.

If one of the parties defaults during performance of the transaction,the transaction coin will be updated accordingly. In at least someembodiments, the user interface is updated to display a tarnishedtransaction coin for the party that breached. Additionally, in someembodiments, the transaction coin is simply removed from thenon-defaulting user's profile. In at least some embodiments, a user mayremove the tarnish from a transaction coin by resolving the default tothe satisfaction of the other party. In these embodiments, the userinterface is updated to display the transaction coin without a tarnishonce the default is resolved. Alternatively, a user may remove atarnished transaction coin by successfully performing a predeterminednumber (e.g., three) of transactions that each have a value equal to orgreater than the value of the transaction associated with the tarnishedtransaction coin. In these embodiments, the tarnished transaction coinis simply not shown on the profile of the defaulting user after thetarnished transaction coin has been removed due to successful completionof additional transactions.

In some embodiments, when a predetermined quantity of types oftransaction coins are accumulated, the user interface displays a sack oftransaction coins. For example, the user interface may display a sack oftransaction coins after a user receives five bronze transaction coins.

In at least some embodiments, the online marketplace also operates toallow users to make payments to other users or to pay fees using thetransaction coins. For example, the transaction coins can operate as avirtual currency. Alternatively, the transaction coins can be traded infor a payment voucher. For example, ten bronze transaction coins couldbe traded in for a bronze level payment voucher. Other embodiments arepossible as well.

At operation 1032, an offer from a first user is accepted by a seconduser and a down payment is made by the second user to the first useraccording to the transaction terms. At operation 1034, uncoloredtransaction coins are awarded to the users to indicate that thetransaction has been entered. At operation 1036, it is determinedwhether the next payment was received according to the transactionterms. If so, the method proceeds to operation 1038. If not, the methodproceeds to operation 1046, where the default is processed.

At operation 1038, the transaction coin colors are updated to reflectthat the payment has been made. At operation 1040, the trust scores ofthe user are updated to reflect that the payments have been made. Trustscores are described in more detail below. At operation 1042, it isdetermined whether the final payment has been received. If so, themethod proceeds to operation 1044, where the transaction coins arecolored in full. If not, the method returns to operation 1036.

At operation 1046, the default is processed. In at least someembodiments, the transaction coin of the defaulting user is tarnished bythe default and the transaction coin of the non-defaulting user isremoved. At operation 1048, the trust scores of the users are updated toreflect the default.

FIG. 15 is a flow chart illustrating an example method 1080 ofcalculating a user trust score using the system 100. In someembodiments, at least some operations of the method 1080 are performedby the reputation engine 304 using a processor (such as processingdevice 120, shown in FIG. 2). In this example, the method 1080 includesoperations 1082, 1084, 1086, 1088, and 1090.

At operation 1082, a transaction coin score is calculated for the userbased on the number of transaction coins earned and the number oftransaction coins tarnished. In at least some embodiments, thetransaction coin score is based on the user's transactions since theuser created an account with the online marketplace 102. Alternatively,the transaction coin score is based on the user's transaction in aparticular time period (e.g., during the past two years). In at leastsome embodiments, the transaction coin score is based on the ratio oftarnished transaction coins to total transaction coins earned. Further,in some embodiments, the total number of transaction coins earned isalso used in calculating the score or as a threshold. For example, thehighest transaction coin score may be calculated when the user has notarnished transaction coins and at least ten total transaction coinsearned. Other embodiments are possible as well.

At operation 1084, the average rating based on user ratings iscalculated. In some embodiments, the average rating is based on a simpleaverage of all of the user ratings that the user has received.Alternatively, the average user rating is calculated as a weightedaverage of the user ratings. For example, the ratings may be weighted togive more recent ratings more weight than past ratings. Alternatively,ratings may be weighted based on the value of the transaction. Asanother alternative, the ratings may be weighted based on the rating ofthe user who provided the rating. In this manner, ratings from reputableusers are weighted more heavily than from other users. Other embodimentsare possible as well.

At operation 1086, a verification level score is calculated based on theverification information provided by the user. For example, averification level score of one may be calculated if the user has beenawarded a Silver Verified Badge and a verification level score of twomay be calculated if the user has been awarded a Gold Verified Badge. Inother embodiments, other values are assigned. Additionally, in someembodiments, other verification levels (badges) are used as well.

At operation 1088, the user trust score is calculated based on thetransaction coin score calculated in operation 1082, the average ratingcalculated in operation 1084, and the verification level scorecalculated in operation 1086. In at least some embodiments, thetransaction coin score, average rating, and verification level score arescaled and averaged. For example, the transaction coin score, averagerating, and verification level score can be scaled to the range of0-100. In this manner, the user trust score is based on an equalweighting of the transaction coin score, average rating, andverification level score. Alternatively, the transaction coin score, theaverage rating, and the verification level score are scaled and thencombined with a weighted average. In some embodiments, the transactioncoin score is weighted more heavily than the average user rating score,and the average user rating is weighted more heavily than theverification level score. For example, in at least some embodiments, thetransaction coin score receives a 60% weighting, the average user ratingscore receives a 30% weighting, and the verification level scorereceives a 10% weighting. Other embodiments use different weightings.Additionally, in some embodiments, the user trust score is based onadditional factors as well, such as data collected from various publicor private sources. For example, in some embodiments, the user trustscore is further adjusted based on data related to how long a userspends viewing or interacting with a particular section of the onlinemarketplace 102. One or more of the following factors are also used bysome embodiments to calculate that trust score: payment history forutility bills, number of e-mail addresses associated with the user andhow long the user has had the e-mail addresses, and social reputationinformation from social media sites and various other public and privatesources.

At operation 1090, the user trust score calculated in operation 1088 isdisplayed next to listings posted by the user and offers made by theuser. Beneficially, this allows users interested in the listing toconsider the trustworthiness of the user who posted the listing beforeentering into the transaction. Similarly, the user who posts the listingcan evaluate the trustworthiness of the user who has sent an offerbefore accepting the offer. The trust score can help the posting user todetermine whether to provide financing to the user making the offer. Inat least some embodiments, the trust score is displayed along with thenumber of transactions that were used to calculate the trust score. Forexample, a trust score of 98/3 may be displayed to indicate a trustscore of 98 has been earned over three transactions.

FIG. 16 is a block diagram illustrating an example layout of aneighborhood interface 1140 generated by the neighborhood engine 308 andthe user interface engine 312. The neighborhood interface 1140 includesa neighbors list 1142, an offerings list 1144, a contact neighborselement 1146, and an add neighbors element 1184.

The neighbors list 1142 operates to show some or all of the other usersof the online marketplace 102 that have been added to the neighborhoodof a user. Users are added to neighborhoods after accepting a neighborrequest, such as a “will you be my neighbor?” request. Users may inviteother users or even non-users to be neighbors. If a user invites anon-user to be a neighbor and the non-user accepts, the user may receivean incentive from the online marketplace 102 such as a voucher that canbe used to make payments for fees or transaction offerings on the onlinemarketplace 102. Users can send neighbor invites in various ways, suchas while viewing the profile of another user or through various socialmedia accounts. Other embodiments are possible as well.

In this example, the neighbors list 1142 shows the neighbor profiles1148 a and 1148 b. In this example, the neighbors list 1142 includes ascroll or swipe capability to show additional neighbors. Otherembodiments are possible as well.

The neighbor profiles 1148 a and 1148 b include photo elements 1150 aand 1150 b, name elements 1152 a and 1152 b, trust score elements 1154 aand 1154 b, verification level badge elements 1156 a and 1156 b,transaction coins elements 1158 a and 1158 b, and contact elements 1160a and 1160 b. In at least some embodiments, the neighbor profiles 1148 aand 1148 b include more, fewer, or different elements.

The photo elements 1150 a and 1150 b optionally show a photograph of theuser that the user has uploaded. The name elements 1152 and 1152 b showthe name of the user.

The trust score elements 1154 a and 1154 b show the trust score of theuser. In this example, the trust score element 1154 a shows a trustscore of “98/3,” which indicates a trust score of 98 has been earnedover three transactions. The trust score element 1154 b shows a trustscore of “96/6,” which indicates a trust score of 96 has been earnedover sixteen transactions. Additionally, in some embodiments, the trustscore elements 1154 a and 1154 b are user interface elements that can beactivated (e.g., by clicking or touching) and used to view theindividual components and transaction data that was used to calculatethe trust score.

The transaction coins elements 1158 a and 1158 b show the transactioncoins that have been earned by the user. In this example, thetransaction coins element 1158 a shows a transaction coin that is onlypartially complete, which indicates that the transaction represented bythe transaction coin is ongoing and only partially complete. Thetransaction coins element 1158 b shows a transaction coin that iscomplete, which indicates that the transaction represented by thetransaction coin is complete. Although only a single transaction coin isshown in each of the transaction coins elements 1158 a and 1158 b, inother embodiments multiple transaction coins are shown.

The contact elements 1160 a and 1160 b are user interface elements thatcan be activated to contact the user. In some embodiments, activatingthe contact elements 1160 a and 1160 b opens a form which can be used tosend a message to the user. In some embodiments, the message is sentusing e-mail, text messaging, or social media. Additionally, in someembodiments, the message is sent to an inbox for the user within theonline marketplace 102. The contact elements 1160 a and 1160 b can beused to send messages to solicit a neighbor to buy or sell a particulartransaction offering. Additionally, the contact elements 1160 a and 1160b can also be used to solicit a neighbor to help pay for an offering asa third-party payer. Beneficially, this can be used to purchase aparticular transaction offering for a charity, friend, or family member.

The offerings list 1144 operates to show some or all of the transactionofferings available from users in the neighborhood. In this example, theofferings list 1144 shows transaction offering panels 1170 a and 1170 b.In this example, the offerings list 1144 includes a scroll or swipecapability to show additional offerings from neighbors. Otherembodiments are possible as well. Additionally, in some embodiments, theofferings list 1144 includes user interface elements filter or searchthe offerings in the list.

The transaction offering panels 1170 a and 1170 b include title elements1172 a and 1172 b, photo elements 1174 a and 1174 b, transaction termselements 1176 a and 1176 b, hold elements 1178 a and 1178 b, make offerelements 1180 a and 1180 b, and adjust offer elements 1182 a and 1182 b.In at least some embodiments, the transaction offering panels 1170 a and1170 b include more, fewer, or different elements. For example, thetransaction offering panels 1170 a and 1170 b can also include adetailed description or a user interface element that can be used toaccess the detailed description and information about the user wholisted the offering.

The title elements 1172 a and 1172 b display the title of thetransaction offering that was entered by the user who listed it. Thephoto elements 1174 a and 1174 b display one or more photographs, if anyhave been uploaded, of the offering.

The transaction terms elements 1176 a and 1176 b show the transactionterms that the user entered. In at least some embodiments, thetransaction terms elements 1176 a and 1176 b also include indicia (e.g.,different fonts, colors, text styles, asterisks, etc.) of whether theuser who posted the offering is willing to consider counter offers onthe particular terms.

The hold elements 1178 a and 1178 b are user interface elements that canbe activated to hold the offering. Holding an offering has beendescribed in greater detail above. The make offer elements 1180 a and1180 b are user interface elements that can be activated to make anoffer on the offering. The adjust offer elements 1182 a and 1182 b areuser interface elements that can be activated to adjust one or more ofthe proposed transaction terms for the offering before making an offer.Making and adjusting offers on an offering has been described in greaterdetail above.

The contact neighbors element 1146 operates to send a message to allneighbors of a particular user. Similar to the contact elements 1160 aand 1160 b described above, the contact neighbors element 1146 can beused to solicit neighbors as a group to buy or sell a particulartransaction offering. Additionally, the contact neighbors element 1146can be used to solicit neighbors to make a payment on behalf of a thirdparty such as a charity, friend, or family member. In at least someembodiments, unsolicited communication is only permitted betweenneighbors. Further, in some embodiments, the neighborhood interface 1140includes an element that the user can use to remove or hide a particularother user from the neighborhood and thus stop receiving unsolicitedcommunication from that other user.

The add neighbors element 1184 operates to add a user as a neighbor. Insome embodiments, the add neighbors element 1184 display a search formwhen it is activated that can be used to identify potential neighbors.Additionally, in some embodiments, when a potential neighbor isidentified, a user can send a “Will you be my neighbor?” request to thepotential neighbor. In some embodiments, the potential neighbor is notadded to the neighborhood until the potential neighbor accepts therequest. In at least some embodiments, neighbors can be added usingother interfaces as well. For example, some embodiments include a userinterface element to add a user to the neighborhood that is displayed onthe profile page of a potential neighbor or another location. Asdescribed above, the user may receive an incentive when a non-usercreates an account with the online marketplace 102.

The various embodiments described above are provided by way ofillustration only and should not be construed to limit the claimsattached hereto. Those skilled in the art will readily recognize variousmodifications and changes that may be made without following the exampleembodiments and applications illustrated and described herein, andwithout departing from the true spirit and scope of the followingclaims.

What is claimed is:
 1. A method of facilitating online transactionsinvolving seller financing in an online marketplace, the methodcomprising: generating and storing, with a reputation engine, trustprofiles for buyer users and seller users, the trust profiles configuredto allow both buyer users and seller users to evaluate trustworthinessof each other prior to entering into online transactions involvingseller financing; receiving, at a listing engine, descriptions of aplurality of transaction offerings from a plurality of seller users ofthe online marketplace, wherein the transaction offerings are availablefor purchase from the seller users over time for at least two payments;generating a plurality of listings using at least one computing device,each of the listings including one of the descriptions of the pluralityof transactions offerings, wherein the plurality of listings areassociated with transaction offerings across a plurality of differenttransaction offering categories; and facilitating, with a transactionengine, negotiation of binding contracts between the buyer users and theseller users for the transfer of the transaction offerings from theseller users to the buyer users, wherein the binding contracts definepayment terms, and wherein the payment terms include prices andseller-financing terms including at least two payments made by the buyerusers to the seller users over a period of time, wherein facilitatingthe negotiation includes, with a communication engine: transmitting aseller user profile to a buyer user computing device of a buyer userupon receiving an indication that the buyer user wants to respond to thetransaction offering of a seller user; receiving an offer for thetransaction offering from the buyer user; transmitting the offer to theseller user computing device of a seller user via an offer message; andtransmitting a profile of the buyer user to the seller user computingdevice responsive to the seller user following a link in the offermessage, wherein the profile is transmitted separately from the offermessage.
 2. The method of claim 1, wherein the seller-financing termsinvolve third-party financing, wherein upon completion of thetransaction the seller users obtain a full one-time payment and a thirdparty receives the at least two payments from the buyer users over time.3. The method of claim 1, wherein the seller-financing terms involvethird-party financing, wherein at least one third party makes the atleast two payments to the seller users on behalf of the buyer users, andwherein the buyer users repay the at least one third party according tothird-party financing terms different from the payment terms.
 4. Themethod of claim 1, wherein the trust profiles include: reputation dataincluding: reputational factors, including: at least one rating of atleast one of the user's prior transactions, from another user;historical data about the user's conformance to terms of the user'sprior transactions; and information about a verification level of theuser; a trust score computed based on at least some of the reputationalfactors, including a number of the user's prior transactions; and atransaction coins element representing a quantity of transaction coinsthat have been earned by the user.
 5. The method of claim 1, furthercomprising, with a reputation engine: receiving ratings of transactionsfrom the buyer users and the seller users; and updating the trustprofiles based at least in part on the ratings.
 6. The method of claim4, further comprising, with a user interface engine: presenting at leastsome of the plurality of listings to buyer users, wherein presenting alisting of the plurality of listings to a buyer user of the buyer userscomprises presenting the proposed seller-financing terms, includingprice, payment amount, payment frequency, and number of payments, andfurther including an amortization schedule.
 7. The method of claim 1,further comprising, with the communication engine: communicating contactinformation between a buyer user and a seller user only after a bindingcontract has been formed.
 8. The method of claim 1, further comprising,with a payment engine: receiving a hold payment from a buyer user beforereceiving an offer to enter into a transaction, and placing a listing onhold for a hold period.
 9. The method of claim 4, wherein the trustscore is based on a transaction-related score, an average rating, and averification level score.
 10. The method of claim 9, wherein thetransaction-related score is a transaction coin score, wherein thetransaction coin score is computed based on a number of transactionsthat are completed in conformance with the seller-financing terms and anumber of transactions that are not completed in conformance with theseller-financing terms.
 11. The method of claim 1, further comprising,with a payment engine: holding a payment received from at least one ofthe buyer users until an occurrence of at least one of the following:the at least one of the buyer users acknowledging satisfactory deliveryof the transaction offering by the seller and a predetermined timeperiod elapsing; and after the occurrence, transmitting the payment toat least one of the seller users.
 12. The method of claim 1, wherein atleast some of the seller users are also some of the buyer users, andwherein at least some of the buyer users are some of the seller users.13. The method of claim 1, further comprising: notifying, with thecommunication engine, the buyer users and the seller users that anagreement has been reached; with a payment engine: confirming receipt offirst payments from the buyer users according to the payment terms;monitoring conformance of the seller users to the seller-financingterms; monitoring conformance of the buyer users to the payment termsover the periods of time; and updating, with a reputation engine,reputation data within the trust profiles based at least in part on theconformance of the seller users and the buyer users.
 14. The method ofclaim 1, further comprising, with a payment engine: generating remindersof upcoming payments; alerting the buyer users when payments are pastdue; and imposing penalties on the buyer users for defaults.
 15. Themethod of claim 1, further comprising, with an insurance engine:applying transaction insurance for defaults to cause insurance paymentsto be made from at least one insurer to the seller users.
 16. A systemfor facilitating transactions comprising: at least one processingdevice; and at least one computer readable storage device storing datainstructions that, when executed by the at least one processing device,cause the at least one processing device to generate an onlinemarketplace for seller-financed transactions, the online marketplacecomprising: a communication engine; and a transaction engine configuredto: receive a transaction offering from an external location; andinteract with a buyer user and seller user to define payment terms forthe transaction offering, wherein the payment terms include prices andseller-financing terms including at least two payments made by the buyeruser to the seller user over a period of time; and a payment engineconfigured to monitor compliance with the payment terms includingreceipt of payments over time from the buyer user, wherein interactingwith the buyer user and the seller user to define payment terms for thetransaction offering includes, with the communication engine:transmitting a seller user profile of the seller user to a buyer usercomputing device of the buyer user upon receiving an indication that thebuyer user wants to respond to the transaction offering of the selleruser; receiving an offer for the transaction offering from the buyeruser; transmitting the offer to a seller user computing device of theseller user via an offer message; and transmitting a profile of thebuyer user to the seller user computing device responsive to the selleruser following a link in the offer message, wherein the profile istransmitted separately from the offer message.
 17. The system of claim16, further comprising a reputation engine configured to generate andstore trust profiles for users of the online marketplace, the trustprofiles configured to allow both buyer users and seller users toevaluate trustworthiness of each other prior to entering intoseller-financed transactions.
 18. A method of facilitating onlinetransactions involving seller financing, the method comprising:receiving, at a listing engine and from an external location, atransaction offering being offered by a seller user; and facilitating,with a transaction engine, negotiation of a binding contract between abuyer user and the seller user for the transfer of the transactionofferings from the seller user to the buyer user, wherein the bindingcontract defines payment terms, and wherein the payment terms includeprices and seller-financing terms including at least two payments madeby the buyer user to the seller user over a period of time, whereinfacilitating the negotiation includes, with a communication engine:transmitting a seller user profile to a computing device of the buyeruser upon receiving an indication that the buyer user wants to respondto the transaction offering of the seller user; receiving an offer forthe transaction offering from the buyer user; transmitting the offer toa seller user computing device of the seller user via an offer message;and transmitting a profile of the buyer user to the seller usercomputing device responsive to the seller user following a link in theoffer message, wherein the profile is transmitted separately from theoffer message.
 19. The method of claim 18, further comprising:transmitting, with the communication engine, a confirmation of thebinding contract to the external location.
 20. The method of claim 18,further comprising, with a reputation engine: generating and storingtrust profiles for buyer users and seller users, the trust profilesconfigured to allow both buyer users and seller users to evaluatetrustworthiness of each other prior to entering into online transactionsinvolving seller financing.